Mahindra's Farm Equipment Sector Sells 25769 Units in India during July 2021

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for July 2021.

Domestic sales in July 2021 were at 25769 units, as against 24463 units during July 2020.

Total tractor sales (Domestic + Exports) during July 2021 were at 27229 units, as against 25402 units for the same period last year.

Exports for the month stood at 1460 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 25769 tractors in the domestic market during July 2021 with a growth of 5% over last year. Demand remained buoyant in July as crop sowing operations gained traction with monsoon picking up pace across all the regions. Easing of COVID curbs & robust farm incomes on account of record Rabi crop procurement has bode well for the rural economy. We continue to stay bullish on tractor demand in the coming months owing to revival of monsoon, hike in MSP of key Kharif crops & upcoming festival season. In the exports market, we have sold 1460 tractors with a growth of 55%".

Shares of Mahindra & Mahindra Ltd. was last trading in BSE at Rs. 743.2 as compared to the previous close of Rs. 731.7. The total number of shares traded during the day was 241824 in over 9659 trades.

The stock hit an intraday high of Rs. 759.9 and intraday low of 732. The net turnover during the day was Rs. 181273087.

Source : Equity Bulls

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